Derek Chapman has a swipe at DK

[London Irish]

On a financial modeling basis they are worthless, if you want to buy them for emotional or mischief making purposes that is a separate issue.

I do wonder what odd fantasy scenario you have in mind that people could use them for mischief-making? Who are these mischief-makers? What mischief are you thinking of, putting a whoppee cushion under the chairman's seat at the AGM? Poogate the sequel in the director's lavs?

 

[Springal]

I do wonder what odd fantasy scenario you have in mind that people could use them for mischief-making? Who are these mischief-makers? What mischief are you thinking of, putting a whoppee cushion under the chairman's seat at the AGM? Poogate the sequel in the director's lavs?

I think he means the massive increase in admin costs to maintain a system, which a greater number of shareholders would need.

 

[El Presidente]

I do wonder what odd fantasy scenario you have in mind that people could use them for mischief-making? Who are these mischief-makers? What mischief are you thinking of, putting a whoppee cushion under the chairman's seat at the AGM? Poogate the sequel in the director's lavs?

Err.............my fantasy scenarios don't involve the Albion board x

 

[HAILSHAM SEAGULL]

I was making the point that the club didn't pay anything because there was nothing in the kitty. The directors paid the bills so, in effect, DC was contributing to the invoices from his own company!! Surely you can see that?

If the club had used a main contractor that was not owned by a board member, then the invoices would very likely been much higher than the reduced cost Adenstar ones.
So the chances are that the club might have folded.
Joe Bloggs Constuction may have charged 30% more than Adenstar, for works at Withdean.
Would the club have had the funds for these essential works such as the temporary stands and other building works which enabled Withdean to achieve the required safety certificates. The directors may not of had enough in the pot for these higher bills
So just maybe DK was more of a savior than some people realise, especially The Rugby Club bloke.

 

[ROSM]

And your assertion that DC is saying you should only contribute and not get back anything is incorrect, I believe. The debt was converted into equity by DK and DC. DK demanded for it effectively to be converted back into debt seeing as the market value of the shares was and remains worthless. The way I read it is that DC believed DK knew the return was likely to be zero when doing the original conversion into shares and remains the only shareholder to have demanded any of his money back.

If that's correct then, as I've said previously, I understand why DC feels as he does and has said as much but also I do understand DK's reasons also.

I did ask a few days back if the shares actually did have some value. The voting structure and share classification was once very complex (when it was knight v archer with Perry holding 1%) I wonder if to get the voting power, Bloom needed some of knights shares. In which case they did have a vakue in terms of one person had them and another wanted them.

Whether that should ever have been the case (in terms of should the owner have insisted on getting that value) is another matter

 

[London Irish]

I think he means the massive increase in admin costs to maintain a system, which a greater number of shareholders would need.

London Irish the rugby club gave all their season ticket holders a small number of shares with their season ticket about 15 years ago, so our shareholder base must be well in excess of about 1,000 people. Haven't heard any London Irish official moan about it once in all the years since then. Admittedly they do send me a notification of the AGM every year with a second class postage stamp, might be dodgy with FFP the way postal prices are going up.

 

[Stat Brother]

London Irish the rugby club gave all their season ticket holders a small number of shares with their season ticket about 15 years ago, so our shareholder base must be well in excess of about 1,000 people. Haven't heard any London Irish official moan about it once in all the years since then. Admittedly they do send me a notification of the AGM every year with a second class postage stamp, might be dodgy with FFP the way postal prices are going up.

Blimey that's how to miss the point, in style.

Do you honestly believe only 1000 (ish) fans would take DK up on his 'generous' offer to sell worthless shares for a pound each.

How would LI's admin team cope with 10,000 share holders, what about 27,500 share holders.
Best not forget their children, 50,000 share holders.
Hell they are only a pound each, how about 100,000 share holders.

 

[El Presidente]

I suspect that even if we did have 100,000 shareholders (which is highly unlikely) in reality very few would turn up to the AGM.

 

[drew]

Seriously, what are you arguing about? I can see that. I was using DC's own words in the opening post regarding the club paying regardless of where the funds came from in response to a question from ERNEST. Why you feel the need to make an issue of it is a bit of a mystery.

Just trying to clarify for the benefit of LR. The club were propped up by the directors so whilst technically the invoices were probably paid by 'the club', in reality the money was coming from the directors.

Ha, you want to discuss the entire book now? Some of us are working!

I haven't read the book but have followed parts of the serialisation in the Argus. Haven't you?

Drew, when you conceded the point that Chapman received Albion-related dividends, you entirely made my case for me. Thanks.
Now let Dick have his own form of Chapman's dividend payments, who are you to say he doesn't deserve it given what he achieved for the club?

You have a warped way of processing information! You know very what point I was making and that in no way does it support your comments. You just can't accept that.

 

[London Irish]

Blimey that's how to miss the point, in style.

Do you honestly believe only 1000 (ish) fans would take DK up on his 'generous' offer to sell worthless shares for a pound each.

How would LI's admin team cope with 10,000 share holders, what about 27,500 share holders.
Best not forget their children, 50,000 share holders.
Hell they are only a pound each, how about 100,000 share holders.

You are model of confusion aren't you? Are you arguing that it's a "worthless" publicity stunt that no one in their right minds will touch, or is it a once-in-the-lifetime opportunity for all Albion fans will sign up even their pet gerbils for. Genuinely can't tell - rein in the sarcasm and try and get over the low bar of making a coherent, internally consistent point.

 

[Psychobilly freakout]

I suspect that even if we did have 100,000 shareholders (which is highly unlikely) in reality very few would turn up to the AGM.

There would be carnage at Falmer station never mind the buses

 

[London Irish]

Going for a beer, Drew, El P et al - thanks

 

[El Presidente]

Going for a beer, Drew, El P et al - thanks

Night night x

I'm STILL working though

 

[Lord Bracknell]

If the club had used a main contractor that was not owned by a board member, then the invoices would very likely been much higher than the reduced cost Adenstar ones.
So the chances are that the club might have folded.
Joe Bloggs Constuction may have charged 30% more than Adenstar, for works at Withdean.
Would the club have had the funds for these essential works such as the temporary stands and other building works which enabled Withdean to achieve the required safety certificates. The directors may not of had enough in the pot for these higher bills
So just maybe DK was more of a savior than some people realise, especially The Rugby Club bloke.

There is a hell of a lot of uninformed speculation on this thread (and I'm not particularly picking on this post), but I think it's fair to say that very few people will know the details of the precise arrangements that brought about Adenstar's involvement in the various construction projects that the Albion have commissioned over the past 15 years or so.

As far as I can see, people are mainly interested in inventing justifications for taking sides in what seems to be nothing more than a minor spat between Dick Knight and Derek Chapman, fuelled more by DC's piece in the Argus than anything written in DK's book. Personally, I can't see the point, because I can't see the benefit of either side winning this squabble.

 

[Questions]

There is a hell of a lot of uninformed speculation on this thread (and I'm not particularly picking on this post), but I think it's fair to say that very few people will know the details of the precise arrangements that brought about Adenstar's involvement in the various construction projects that the Albion have commissioned over the past 15 years or so.

As far as I can see, people are mainly interested in inventing justifications for taking sides in what seems to be nothing more than a minor spat between Dick Knight and Derek Chapman, fuelled more by DC's piece in the Argus than anything written in DK's book. Personally, I can't see the point, because I can't see the benefit of either side winning this squabble.

DC and DK can squabble all they want into the distant future and it won't make a scrap of difference now. As long as TB is at the helm it's like two over the top heavyweights fighting on a undercard. NSC's problem is TB doesn't keep rabbiting on every five minutes. I love the fact he doesn't.

 

[Ernest]

DC and DK can squabble all they want into the distant future and it won't make a scrap of difference now. As long as TB is at the helm it's like two over the top heavyweights fighting on a undercard. NSC's problem is TB doesn't keep rabbiting on every five minutes. I love the fact he doesn't.

I would HAVE preferred SILENT Knight for the LAST few years

 

[Stat Brother]

I suspect that even if we did have 100,000 shareholders (which is highly unlikely) in reality very few would turn up to the AGM.

Clearly they won't turn up, but they'll all need to be told.
Wouldn't being a share holder entitle you to the accounts as well?

And yes a 100,000 is unlikely, but not as unlikely as DK only selling 1000 shares.

You are model of confusion aren't you? Are you arguing that it's a "worthless" publicity stunt that no one in their right minds will touch, or is it a once-in-the-lifetime opportunity for all Albion fans will sign up even their pet gerbils for. Genuinely can't tell - rein in the sarcasm and try and get over the low bar of making a coherent, internally consistent point.

I guess I'm a little jaded repeatedly making the same blindingly obvious point, that we can all see.

DK's shares are worthless.
DK's shares only possible value is to sell them to the only people who like the idea of shares in BHA.
DK can't sell them to a few fans for decent money.
So DK sells them to all fans for next to no money.

It is a publicity stunt, one that has served DK well.
But one that could cripple the club under a mountain of administration when idiots like me (and I guess you too) buy 3 shares, one for me, and one each for my kids, cos why wouldn't we.

 

[Questions]

I would HAVE preferred SILENT Knight for the LAST few years

I remember asking about the funding of the new stadium on here when DK was at the helm Ernest and before TB came forward and being rounded on by the usual DK sycophants who said how dare I ask for details.......Dick has said he will deliver. Well he didn't, Tony Bloom did as DC makes clear in his Argus piece.

 

[Ernest]

I remember asking about the funding of the new stadium on here when DK was at the helm Ernest and before TB came forward and being rounded on by the usual DK sycophants who said how dare I ask for details.......Dick has said he will deliver. Well he didn't, Tony Bloom did as DC makes clear in his Argus piece.

I have been ABUSED on here for YEARS by the LICKERS for telling the TRUTH, not many of US can say we were right

 

[Questions]

I have been ABUSED on here for YEARS by the LICKERS for telling the TRUTH, not many of US can say we were right

But he won't be the potless pillock now though will he ? What with shares and his book.